,,ii  #aahth ,,congress  #b;d ,session  
,s4 #chja  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,february #bf1 
#bjbd,mr4 ,cruz 7for himself1 ,mr4      
,hagerty1 ,mr4 ,scott of ,florida1 ,mr4 
,braun1 ,mr4 ,budd1 and ,mr4 ,cramer7   
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to amend   
the ,federal ,reserve ,act to prohibit  
the ,federal ,reserve banks from        
offering certain products or services   
directly to an individual1 to prohibit  
the use of central bank digital currency
 for monetary policy1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,,cbdc              
,anti-,surveillance ,state ,act4  #b4   
,prohibition on ,federal reserve banks  
relating to certain products or services
 for individuals and prohibition on     
directly issuing a central bank digital 
currency ,section #af of the ,federal   
,reserve ,act 7#ab ,u4,s4,c4 #daa et    

seq47 is amended by adding at the end   
the following3  ,no ,federal ,reserve   
bank shall offer products or services   
directly to an individual1 maintain an  
account on behalf of an individual1 or  
issue a central bank digital currency1  
or any digital asset that is            
substantially similar1 under any other  
name or label1 directly to an           
individual4  4  #c4 ,prohibition on     
,federal reserve banks indirectly       
issuing a central bank digital currency 
,section #af of the ,federal ,reserve   
,act 7#ab ,u4,s4,c4 #daa et seq471 as   
amended by section #b of this ,act1 is  
further amended by adding at the end the
 following3  ,a ,federal ,reserve bank  
shall not offer a central bank digital  
currency1 or any digital asset that is  
substantially similar under any other   
name or label1 indirectly to an         
individual through a financial          
institution or other intermediary4 ,the 
preceding sentence is not to be         
construed to prohibit any               

dollar-denominated currency that is     
open1 permissionless1 private1 and fully
 preserves the privacy protections of   
,united ,states coins and physical      
currency4  4  #d4 ,prohibition on the   
use of central bank digital currency for
 monetary policy ,section #af of the    
,federal ,reserve ,act 7#ab ,u4,s4,c4   
#bda et seq47 is amended by inserting   
before the twelfth undesignated         
paragraph the following3  ,the ,board of
 ,governors of the ,federal ,reserve    
,system and the ,federal ,open ,market  
,committee shall not use any central    
bank digital currency1 or any digital   
asset that is substantially similar     
under any other name or label1 to       
implement monetary policy4  4  #e4      
,central bank digital currency  7a7 ,in 
general ,the ,federal ,reserve ,act 7#ab
 ,u4,s4,c4 #bba et seq47 is amended by  
inserting after section #af the         
following3  #af;,a4 ,central bank       
digital currency  7a7 ,in general ,the  
,board of ,governors of the ,federal    

,reserve ,system may not1 absent        
,congressional authorization1 issue a   
central bank digital currency4  7b7     
,central bank digital currency defined  
,in this section1 the term central bank 
digital currency means a form of digital
 money or monetary value1 denominated in
 the national unit of account1 that is a
 direct liability of the ,federal       
,reserve ,system4  4  7b7 ,treasury     
7#a7 ,in general ,chapter #c of title   
#ca of the ,united ,states ,code is     
amended by inserting after section #caf 
the following3  #cag4 ,central bank     
digital currency  7a7 ,in general ,the  
,secretary of the ,treasury may not1    
absent ,congressional authorization1    
direct the ,board of ,governors of the  
,federal ,reserve ,system to issue a    
central bank digital currency4  7b7     
,central ,bank ,digital ,currency       
defined ,in this section1 the term      
central bank digital currency means a   
form of digital money or monetary value1
 denominated in the national unit of    

account1 that is a direct liability of  
the central bank4  4  7#b7 ,clerical    
amendment ,the table of sections for    
chapter #c of title #ca1 ,united ,states
 ,code1 is amended by inserting after   
the item relating to section #caf the   
following3  #cag4 ,central bank digital 
currency4  4  #f4 ,protection for open1 
permissionless1 and private currency    
,this ,act and the amendments made by   
this ,act shall not apply to any        
dollar-denominated currency that is     
open1 permissionless1 and private1 and  
fully preserves the privacy protections 
of ,united ,states coins and physical   
currency4